On behalf of its partners in Azerbaijan, BP has signed a new memorandum of understanding with the Small and Medium Business Development Agency (SBA) to continue cooperation in supporting local business development.

"APA-Economics" informs that this is a continuation of effective cooperation with KOBIA within the framework of the first memorandum of understanding signed in 2018.

According to the information, the document was signed by the Chairman of the Board of Directors of KOBIA Orkhan Mammadov and the Vice President of BP for communication and external relations in the Caspian region Bakhtiyar Aslanbeyli.

Within the framework of the new memorandum, KOBIA and bp will cooperate in projects aimed at supporting entrepreneurship in our country.

Speaking at the signing ceremony, Bakhtiyar Aslanbeyli noted that by signing a new memorandum of understanding, they continue their efforts to support the development of local businesses: "Our Entrepreneurship Development Program project was successful in bringing together all interested parties working to increase the potential of local businesses. Indeed, this program helps local businesses to international has created a great opportunity to meet standards and compete for supply contracts. We are finalizing this project and starting a new partnership with KOBIA. Through this partnership, we intend to further the success of the Entrepreneurship Development Program."

According to Orkhan Mammadov, Chairman of the Management Board of KOBIA, KOBIA implements joint projects with various institutions and organizations in the regions in the direction of the development of micro and small entrepreneurship and their support.

The projects that will be implemented in the framework of cooperation with BP will also have a positive effect on increasing the level of profitability of local communities in the regions, will contribute to the creation of new businesses and self-employment.

Within the framework of the event, two new projects to be implemented with the support of KOBIA and BP were also reported.

It was noted that one of the projects aims to support the development of young entrepreneurs in rural areas and will be implemented in Samukh, Goranboy and Shamkir regions.

Within the framework of the project, young people from low-income families who are interested in entrepreneurship will be selected and trained for future business activities.

Young people who will successfully complete the training will be given the necessary equipment to start their small business, and they will be provided with mentor support.

The project will be implemented by the "Support to Rural Development" Public Union.

The cost of this project is more than 495 thousand manats

Another project aims to support the development of agrotourism in Tovuz region.

The project envisages creating income and employment opportunities for selected low-income families from this district.

Within the framework of the project, training will be held for the staff of seven business entities engaged in agrotourism, mentoring support will be provided, and those enterprises will be equipped with equipment.

In addition, if necessary, support will be provided for the repair of those business facilities.

The project will be implemented by the Regional Development Public Union.

The total cost of the project is 100,000 manats.